Simplify Complicated Data Management Schemes at HSBC
Customer Company Size
Large Corporate
Country
- Worldwide
Product
- Qlik
Tech Stack
- Data Analytics
- Data Management
- Dashboarding
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Digital Expertise
Technology Category
- Analytics & Modeling - Data-as-a-Service
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Services
- Data Science Services
- System Integration
About The Customer
HSBC is a global bank that was founded in 1865 to facilitate international business between Europe and Asia. Initially opened in Hong Kong, the bank now serves more than 40 million organisations and individuals around the world. HSBC is a large company with a massive commitment to data collection and analysis. The bank recognises that thriving through the next century will require a strong commitment to analytics. The bank employs data management specialists who are well acquainted with the struggle to wrangle data complexity and scale into a usable format.
The Challenge
HSBC, a global bank serving over 40 million organisations and individuals, was grappling with the complexity and scale of its data. The bank recognised the need for a strong commitment to analytics to thrive in the future. However, the challenge was not just about collecting data but making it usable and accessible across the organisation. The bank needed to ensure data quality, make data-driven decisions easier, and enable every staff member to contribute to business intelligence. The sheer size of HSBC and its commitment to data collection and analysis necessitated a simplified approach to data management.
The Solution
HSBC developed a data management path that simplified the process and involved the entire organisation in data management. The bank boiled down data management to five key concepts: what data is important, where it resides, why it is leveraged from its collection point, the impact/opportunity of collecting this data, and ensuring the data is fit for the intended purpose. HSBC used these concepts to guide its data management decisions, develop lineage diagrams, and create data quality mechanisms. The bank also used data analytics platforms like Qlik to create intuitive dashboards that captured each stage of the data lifecycle and made information readily available at all levels of the organisation. HSBC also developed a data dictionary to provide common definitions and an inventory of applications to track data across the world and through different parts of the organisation.
Operational Impact
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